En Español

Very usefull links


News links




Dow Jones

Oil price



Views and News





Petrobras and Modec reach deal for Libra platform




By Reuters Staff

Petroleumworld 12 19 2017

Brazil's Petroleo Brasileiro SA has closed a deal with Japan's Modec Inc, which will build and operate a platform for oil production in the nation's Libra block, the state-controlled energy company said on Monday.

The company, known as Petrobras, did not disclose the cost but said Modec would operate the platform, which will link up to 17 wells, for 22 years.

The floating production, storage and offloading unit will process up to 180,000 barrels per day of oil and 12 million cubic meters of gas, Petrobras said. Production is forecast to begin in 2021.

The vast Libra field was the first block of Brazil's coveted offshore pre-salt region to be auctioned off in 2013.

In November, Petrobras said the field's northeast section was ready to produce commercially and had proven reserves of 3.3 billion barrels. The company named the section Mero.

Petrobras owns 40 percent of the Libra project, with Anglo-Dutch Shell Plc and France's Total SA each owning 20 percent. Chinese state oil companies CNOOC Ltd and China National Petroleum Corp each hold 10 percent.


Reporting by Alexandra Alper; Editing by Lisa Von Ahn from Reuters.

reuters.com 12 18 2017

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels





Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.